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Ira Sohn: Coatue's Laffont sees Liberty Global's stock price climbing

Reuters - UK Focus

NEW YORK (Frankfurt: HX6.F - news) , May 5 (Reuters) - Hedge fund manager Philippe Laffont recommended Liberty Global Plc (NasdaqGS: LBTYA - news) at an investment conference on Monday, saying that fresh demand in broadband services will help boost growth at the company.

Laffont, speaking at the Sohn Investment Conference in New York, said Liberty's shares, now trading around $40 a share, could "easily" rise above $100 per share.

He said the huge popularity in video streaming service Netflix (NasdaqGS: NFLX - news) will force homeowners to upgrade their broadband.

Laffont described Liberty Global's business as "awesome" and praised the company's chief executive, John Malone.

Laffont said he sees a chance that Vodafone could buy Liberty Global, saying: "We think that merger will happen, it is just a question of time." He said it would be a good geographic fit, saying the companies would complement each other in Europe. (Reporting by Svea Herbst-Bayliss and Luciana Lopez; Editing by Leslie Adler)